US spot bitcoin ETFs returned to positive territory on Thursday, attracting $159.45m as BlackRock’s IBIT led a sharp recovery in institutional demand.
IBIT received $183.66m, more than offsetting withdrawals from other funds. Fidelity’s FBTC recorded outflows of $16.64m, while VanEck’s HODL lost $7.57m.
Total trading volume across the bitcoin ETF market was $2.81bn, with combined net assets ending the session at $95.19bn.
The inflows came as bitcoin’s price rose by almost 6% to reach $80,000 after a volatile week influenced by tighter monetary policy and changing investor appetite for risk.
Eric Balchunas, Bloomberg’s senior ETF analyst, said bitcoin ETFs could eventually become three times larger than gold ETFs as younger investors build wealth and increasingly regard bitcoin as a store of value.
“I do believe that bitcoin ETFs will triple gold in assets,” Balchunas told Bitcoin Magazine, pointing to a generational change in investor preferences.
Ether and XRP funds remain under pressure
Ether ETFs did not share bitcoin’s recovery, registering net outflows of $39.24m.
BlackRock’s ETHA accounted for most of the withdrawals, with $42.86m leaving the fund. Fidelity’s FETH attracted $1.83m, while VanEck’s ETHV received $1.79m.
Those inflows reduced the overall decline but were not enough to reverse it. Ether ETF trading volume reached $680.45m, while combined net assets closed at $15.42bn.
XRP ETFs also recorded withdrawals, with investors taking out a net $5.15m.
21Shares’ TOXR lost $3.78m and Canary’s XRPC saw outflows of $1.37m. Daily trading volume was $19.69m, with net assets ending at $1.39bn.
HYPE ETFs recorded $4.25m in inflows. 21Shares’ THYP brought in $2.40m, while Bitwise’s BHYP attracted $1.86m. Solana ETFs had no net flows during the session.
Zcash ETF sees second-largest daily inflow
The strongest performance outside bitcoin came from Zcash ETFs, which attracted $46.56m. All of that money entered through Grayscale’s ZCSH, giving the recently launched fund its second-largest daily inflow since it began trading.
Grayscale has announced a 3-for-1 forward stock split for ZCSH. The record date is Sept. 28, with the additional shares scheduled to be distributed on Sept. 29. Trading is expected to begin at the post-split price on Sept. 30.
Investors will receive two additional shares for every share they hold. The total value of their position will remain unchanged at the time of the split.
Thursday’s figures showed renewed demand for bitcoin alongside selective investment in newer crypto products, while ether and XRP funds continued to experience withdrawals.
